Bombardier North American Financing

Bombardier Inc. (Bombardier) recently restructured its existing Canadian credit facility into North American credit facilities totalling C$1,750,000,000. National Bank of Canada acted as arranger, administrative agent and swingline provider of that syndicated cross-border financing granted by a syndicate of Canadian and US banks. The syndicated credit facilities were put together for the benefit of Bombardier and certain of its North American subsidiaries including Bombardier Corporation, Bombardier Aerospace Corporation and Learjet Inc.

The Credit Agreement affords the borrowers unprecedented flexibility in borrowing. Borrowings are available to be drawn in Canadian dollars, US dollars, Euros and, in the case of letters of credit, any other currency freely convertible into Canadian and US dollars. In addition to the traditional interest rate options (Prime, US Base, US Prime, Libor, Euribor and Euro Libor), the borrowers may also obtain financing by way of bankers’ acceptances and both financial and non-financial letters of credit. The financing structure also enables Bombardier to allocate unused Canadian commitments to the availability of its US subsidiaries and to add or substitute subsidiaries as borrowers as required.

The syndicate of lenders was represented by Claude Gendron and Angela C. Onesi of the Montreal office of Fasken Martineau DuMoulin LLP who were assisted in the transaction by New York counsel, John A. Willett and Lily J. Lu of Arnold & Porter. Bombardier’s General Counsel, Daniel Desjardins, and Charles J. Boivin of Ogilvy Renault’s Montreal office handled the negotiations for the borrowers with the assistance of Kathy Shakibnia also of Ogilvy Renault and New York counsel, John J. Bonacum III of Morgan, Lewis & Bockius LLP. Local counsel in the States of Idaho, Kansas and Texas also assisted the borrowers in the transaction.


Lily Lu Charles J. Boivin Claude Gendron John Willett Kathy Shakibnia Angela Onesi